2164 Insurance Services Office, Inc.; private passenger automobile; alternative rating plan; rate filing?
Insurance Services Office, Inc.; Private Passenger Automobile; Alternative Rating Plan; Rate Filing [41 Pa.B. 6846]
[Saturday, December 17, 2011]On November 29, 2011, the Insurance Department (Department) received from Insurance Services Office, Inc. (ISO) a filing for an alternative rating plan to the standard ISO Personal Vehicle Manual rating system.
The model underlying the proposed Risk Analyzer Personal Auto Rating Plan Manual is based on a wide variety of characteristics affecting the risk of loss, such as traffic density, driving patterns, topography and weather. This alternate rating plan is not being filed on behalf of insurers and will not be incorporated into ISO's Personal Vehicle Manual or Personal Auto Program. ISO participating insurers that would elect to adopt this alternative rating plan would need to file with the Department to do so and establish their own effective date for their introduction of the plan. The filing provides information to enable the adoption of the plan on a revenue neutral basis with, at most, a +/- 15% deviation from the current territorial rates for an individual consumer.
Unless formal administrative action is taken prior to January 28, 2012, the subject filing may be deemed approved by operation of law.
A copy of the filing is available on the Department's web site at www.insurance.pa.gov. To access the filing, under ''How to Find . . .'' click on ''View Current Rate Filings.''
Interested parties are invited to submit written comments, suggestions or objections to Michael McKenney, Insurance Department, Insurance Product Regulation and Administration, 1311 Strawberry Square, Harrisburg, PA 17120, mmckenney@pa.gov within 30 days after publication of this notice in the Pennsylvania Bulletin.
MICHAEL F. CONSEDINE,
Insurance Commissioner[Pa.B. Doc. No. 11-2164. Filed for public inspection December 16, 2011, 9:00 a.m.]
